G7 confenrece call was about preparations for summit

Spain was not a subject of the call, a German finance ministry spokesman says, via Reuters. That call was in preparation for the Toronto summit.

Geithner will bring the hot dogs, Schaeble will bring the potato salad and Canada’s Flaherty will bring the Labatts, it was decided.

EUR/USD is bouncing back, now at 1.2245.